Officials from Estadio Benito Villamarin are believed to have held preliminary discussions with the Premier League outfit as they bid to gain preferential access to the finest young talent in north London.
Betis have been so impressed with the impact of Arsenal's 20-year-old Costa Rican striker Joel Campbell - who was sent to Spain on a season long loan deal at the start of the 2012/13 campaign - that they are eager to make such moves a more regular occurrence moving forward.
Gunners boss Arsene Wenger will benefit from sending his emerging Emirates Stadium stars to La Liga to gain valuable first-team experience, while Pepe Mel will utilise the guaranteed option to strengthen his squad in Seville.
Campbell has been a revelation for Betis this season, starting 21 of the 26 games he has featured in, helping the club to seventh spot in the Primera Division table, just four points off Champions League qualification.
The Spanish club have already enquired about the possibility of extending the player's stay, but will pursue the partnership agreement irrespective of the decision on Campbell's future.